At the Waterworks Bureau (Tokyo Metropolitan Government), activated carbon has been used for filtering water. After being used for the filtering process, it is normally disposed or burned for thermal recycling. However, CO2 emissions occur during the thermal recycling. This work focuses on the identification of mechanical behavior of recycled wasted activated carbon (WAC) in order to elaborate smart materials having mechanical–electrical functions. Acoustic emission technique (AE) was used intensively as characterization support in which sensors were attached to detect microdamage during bending tests. At first, the resonant frequencies of the specimens were measured using the through-transmission test. The resonant frequencies of the specimens containing low weight fractions of WAC powder were less in comparison to the frequencies of the specimens with higher volume fraction. The frequency analysis was carried out with the projected wavelet transform on the signals detected during bending tests. Obtained data showed that, typically, the first major peaks showed the resonant frequency of the sensors, while the second major peaks exhibited signals indicative of resin cracking. The surfaces of the fractured specimens were analyzed by optical microscopy in order to visualize the crack formation and propagation on the activated carbon composite under flexural stresses. Consequently, fractographic and AE analyses provide better understanding of the failure mechanisms involved.